“I didn’t know that was a real company, I thought it was just a fake name for her latest Capital One credit card commercial…” -me after watching everyone’s favorite credit card actress light up the NYSE

Have you ever wished you could buy a stock to get the approval of your wife who is now a self-described “crunchy mom”... You’re in luck. Once Upon a Farm just rang the bell on the New York Stock Exchange and the debut went about as smoothly as a refrigerated organic puree possibly can.

Shares of the organic kids’ food brand popped 20% opening at $21 after pricing the IPO at $18. Translation: the market saw “cold-pressed, refrigerated baby food” and said, finally, something other than an overpriced growth stock.

The company raised about $198M, landing at a $724M valuation. For a brand that started in 2015 selling cold-pressed pouches to stressed-out parents in Whole Foods, that’s a pretty solid glow-up.

And yes, like I briefly mentioned, Ben Affleck’s ex is involved… Jennifer Lopez Garner. And no, Capital One does not appear to be involved this time, which feels almost irresponsible given their track record.

Garner joined the company back in 2017 alongside former Annie’s boss John Foraker, who now runs the show and proudly carries the extremely serious title of “Grand Poobah of Organic.” As for Garner’s day-to-day responsibilities? A little less clear. Officially, she sits on the board under the very on-brand title “Farmer Jen.” Unofficially, she smiles at the camera, sells the mission, and makes the whole thing feel more boutique.

(Source: New York Post)

While it might appear like another celebrity cash-grab on the surface… it actually hits a real pain point for a lot of homes.

Once Upon a Farm is hitting the market at the exact moment ultra-processed food has become the villain in the public square.

Between policy pressure, parent paranoia, and the rise of “MAHA moms” nodding along with Robert Kennedy Jr., Big Food has been catching strays. The backlash has been real… and insurgent brands with clean labels are feasting.

The numbers back it up. In 2024, revenue jumped to $156.8 million, up 66% year over year, while losses widened to $23.8 million… because growth, shockingly, is not free. Investors mostly shrugged at the red ink and said, “Yeah, but have you seen what parents will pay for refrigerated pouches?”

Retail behavior is shifting too. Foraker pointed out that organic products are no longer banished to the sad, dusty “health food corner.” Retailers are now handing prime shelf space to brands like Once Upon a Farm… something he says would’ve been unthinkable back in his Annie’s Homegrown days before it was sold to General Mills.

(Source: Bloomberg)

That’s a pretty good point. Foraker has seen what happens when big conglomerates promise to protect a mission… and then forget about it (see also: Ben & Jerry’s vs Unilever, now Magnum Ice Cream Co.).

Which is why Once Upon a Farm chose the harder path: go public, stay independent, and try not to sell their soul for shelf velocity. But let’s be real, a little help from Farmer Jen doesn’t hurt either. 

And zooming out, isn’t it kind of funny? Our parents didn’t give two sh*ts whether there was Red 40 or Roundup anywhere near our Cheez-Its. We ate whatever was in the pantry and called it a day. Now fast-forward a generation and young moms don’t want their kids touching anything unless it’s organic. It’s a massive shift… and honestly, pretty cool… if you can afford it.

At the time of publishing this article, Stocks.News doesn’t hold positions in companies mentioned in the article.